Gold surges in Asia

16 Jul, 2010

Gold edged up on Thursday after China's growth data for the second quarter was slightly weaker than expected, helping revive the precious metal's allure as a hedge at a time of economic uncertainty. Spot gold was at $1,210.65 per ounce as of 0520 GMT, up 0.3 percent from late New York levels of $1,207.50. US gold futures for August delivery rose $4.20 or 0.3 percent to $1,211.20 per ounce. The contract fell $6.50 to $1,207 on Wednesday.

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